Banking and Loans
Every business has a banking relationship and some also have bank debt/loans that they carry.
Evaluating the efficiency of checking and savings account balances for the business is a semi-annual to annual process that is of the utmost importance. The average business keeps a sizeable amount within the checking & savings account with the businesses primary banking relationship. If those accounts are paying little to no interest, then the business is missing out on thousands or 10s of thousands of dollars per year of lost interest opportunities.
Our team is always looking to identify if the cash you have is earning optimal rates of return. If not, our team makes suggestions on adjustments or changes you can make to maximize interest on the businesses bank account balances.
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Most business owners are busy running the day to day, and do not annually evaluate their existing debt structure or loans in regard to the current rate environment. As part of our outsourced CFO service, we will annually get second opinions from outside banks to ensure that you're always paying the most competitive rates on any business debt.
